Prevail Innovative Wealth Advisors LLC Increases Stock Position in KeyCorp (NYSE:KEY)

Prevail Innovative Wealth Advisors LLC boosted its stake in KeyCorp (NYSE:KEY - Free Report) by 280.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,696 shares of the financial services provider's stock after buying an additional 29,994 shares during the quarter. Prevail Innovative Wealth Advisors LLC's holdings in KeyCorp were worth $651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in KeyCorp in the 4th quarter valued at about $153,235,000. Vanguard Group Inc. raised its holdings in KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after acquiring an additional 7,754,576 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in KeyCorp in the 4th quarter valued at about $63,540,000. FMR LLC raised its holdings in KeyCorp by 7.1% in the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after acquiring an additional 2,938,405 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in KeyCorp in the 4th quarter valued at about $42,827,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KEY has been the subject of a number of recent research reports. Citigroup reiterated a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. TD Cowen began coverage on shares of KeyCorp in a report on Thursday, May 15th. They set a "hold" rating and a $18.00 price target for the company. Jefferies Financial Group began coverage on shares of KeyCorp in a report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price target for the company. Baird R W downgraded shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Finally, Robert W. Baird downgraded shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price target for the company. in a report on Wednesday, July 2nd. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $19.18.

Insider Activity

In other news, insider Amy G. Brady sold 19,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the sale, the insider directly owned 82,523 shares of the company's stock, valued at approximately $1,327,795.07. The trade was a 18.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the transaction, the director owned 37,177 shares in the company, valued at approximately $617,138.20. This represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.

KeyCorp Stock Down 0.1%

KEY stock traded down $0.02 during midday trading on Friday, hitting $18.36. The company's stock had a trading volume of 9,761,347 shares, compared to its average volume of 13,266,631. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The firm has a market capitalization of $20.12 billion, a P/E ratio of -108.03, a PEG ratio of 0.67 and a beta of 1.11. The firm has a 50-day simple moving average of $16.74 and a 200-day simple moving average of $16.40.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. During the same period in the previous year, the company earned $0.20 EPS. As a group, equities analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.47%. KeyCorp's dividend payout ratio (DPR) is currently -482.35%.

KeyCorp Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.